(1) The agency’s Finance Manual must document the internal controls that are in place to minimize the risk of losses of money and property and of unreliable accounting information, in relation to -
(a) revenue ;
(b) accounts receivable;
(c) banking;
(d) advances and imprests;
(e) salaries and wages;
(f) bank accounts;
(g) expenditure;
(h) accounts payable;
(i) inventory; and
(j) property, plant and equipment.
(2)
The Accounting Head must ensure that all officers of
the agency who are responsible for particular controls
are aware of their responsibilities, including the need for managers to
regularly rotate duties between staff, where practical, to minimize and detect
the possibility of fraud. These internal checks are in addition to any that are
carried out by internal audit.
(3)
The Accounting
Head must ensure that random internal checks are performed to ensure that
all controls required by these Instructions or the Finance
Manual are being carried out and that they remain effective.
(Finance Instructions 2005 s(72))